Decorative Coatings Market by Technology and Geography - Forecast and Analysis 2022-2026

  • Published: Dec 2021
  • Pages: 120
  • SKU: IRTNTR71687
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The decorative coatings market share is expected to increase by USD 19.93 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.04%.

This decorative coatings market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers decorative coatings market segmentation by technology (waterborne coatings, solvent-borne coatings, and powder coatings) and geography (APAC, North America, Europe, South America, and MEA). The decorative coatings market report also offers information on several market vendors, including Akzo Nobel NV, Asian Paints Ltd., BASF SE, Hempel AS, Jotun AS, Kansai Paint Co. Ltd., Masco Corp., PPG Industries Inc., RPM International Inc., and The Sherwin-Williams Co. among others.

What will the Decorative Coatings Market Size be During the Forecast Period?

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Decorative Coatings Market: Key Drivers and Challenges

The growing demand from emerging economies is notably driving the decorative coatings market growth, although factors such as stringent regulations on the use of coatings may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the decorative coatings industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Decorative Coatings Market Driver

Growth in urbanization and increase in infrastructural investment are driving the construction industry in developing countries such as India and Indonesia. All decorative coatings are applied to buildings and associated structures for decoration and protection. Thus, the increase in demand from end-user industries such as residential and non-residential infrastructure in developing countries is expected to drive the demand for decorative coatings over the next five years. The rise in the GDP of developing economies is also expected to drive the growth of the manufacturing and building industries, which will propel the growth of the decorative coatings market during the forecast period. Furthermore, higher disposable incomes and changing lifestyles in these economies have led to higher growth in the construction market, which, in turn, is inspiring consumers to remodel their homes and buildings according to the energy-efficient building norms. Therefore, the global decorative coatings market in the construction industry is expected to have high growth during the forecast period.

Key Decorative Coatings Market Challenge

Solvent-borne coatings consist of volatile chemicals and are harmful to the environment. Various regulatory bodies in Europe and North America have imposed stringent regulations to control the harmful effects of such coatings. The Clean Air Act regulates VOC and HAP emissions and specifies performance standards for controlling emissions from various types of coatings, including solvent-based coatings. The Clean Water Act limits the concentration of toxic chemicals present in solvent-based coatings and wastewater streams. Compliance with these regulations has increased the costs associated with the purchase and the use of solvent-based industrial coatings. Thus, stringent regulations formulated by regulatory bodies can reduce the demand for solvent-based decorative coatings, which, in turn, will hamper the growth of the market during the forecast period. 

This decorative coatings market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Decorative Coatings Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Akzo Nobel NV
  • Asian Paints Ltd.
  • BASF SE
  • Hempel AS
  • Jotun AS
  • Kansai Paint Co. Ltd.
  • Masco Corp.
  • PPG Industries Inc.
  • RPM International Inc.
  • The Sherwin-Williams Co.

 

This statistical study of the decorative coatings market encompasses successful business strategies deployed by the key vendors. The decorative coatings market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The decorative coatings market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Decorative Coatings Market?

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51% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for decorative coatings in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

The increase in construction activities, rising income levels of the middle-class population, and rapid urbanization will facilitate the decorative coatings market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Technology Segments in the Decorative Coatings Market?

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The decorative coatings market share growth by the waterborne coatings segment will be significant during the forecast period. The major advantages of waterborne coatings are low toxicity, cost-effectiveness, and excellent surface properties such as anti-sealing effects, high gloss, and rub resistance. The growth of the market is influenced by the rising investments in the construction sector and the growth in the demand for design services. Also, advancements in the level of building design, along with regulations and policies, increase the demand for highly technical design development. Such factors will influence the sales of waterborne decorative coatings during the forecast period. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the decorative coatings market size and actionable market insights on post COVID-19 impact on each segment.

 

Decorative Coatings Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 5.04%

Market growth 2022-2026

$ 19.93 billion

Market structure

Fragmented

YoY growth (%)

4.00

Regional analysis

APAC, North America, Europe, South America, and MEA

Performing market contribution

APAC at 51%

Key consumer countries

US, China, Germany, Japan, and India

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Akzo Nobel NV, Asian Paints Ltd., BASF SE, Hempel AS, Jotun AS, Kansai Paint Co. Ltd., Masco Corp., PPG Industries Inc., RPM International Inc., and The Sherwin-Williams Co.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Decorative Coatings Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive decorative coatings market growth during the next five years
  • Precise estimation of the decorative coatings market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the decorative coatings industry across APAC, North America, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of decorative coatings market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2021
    • Market outlook: Forecast for 2021 - 2026

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Technology

    • Market segments
    • Comparison by Technology
    • Waterborne coatings - Market size and forecast 2021-2026
    • Solvent-borne coatings - Market size and forecast 2021-2026
    • Powder coatings - Market size and forecast 2021-2026
    • Market opportunity by Technology

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2021-2026
      • North America - Market size and forecast 2021-2026
      • Europe - Market size and forecast 2021-2026
      • South America - Market size and forecast 2021-2026
      • MEA - Market size and forecast 2021-2026
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Akzo Nobel NV
      • Asian Paints Ltd.
      • BASF SE
      • Hempel AS
      • Jotun AS
      • Kansai Paint Co. Ltd.
      • Masco Corp.
      • PPG Industries Inc.
      • RPM International Inc.
      • The Sherwin-Williams Co.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
      Get your FREE sample now!
      The decorative coatings market growth will increase by $19925.69 million during 2021-2026.
      The decorative coatings market is expected to grow at a CAGR of 5.04% during 2021-2026.
      Technavio has segmented the decorative coatings market by technology (Waterborne coatings, Solvent-borne coatings, and Powder coatings) and geographic (APAC, North America, Europe, South America, and MEA).
      Akzo Nobel NV, Asian Paints Ltd., BASF SE, Hempel AS, Jotun AS, Kansai Paint Co. Ltd., Masco Corp., PPG Industries Inc., RPM International Inc., The Sherwin-Williams Co. are a few of the key vendors in the decorative coatings market.
      APAC will register the highest growth rate of 50.74% among the other regions. Therefore, the decorative coatings market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the decorative coatings market growth are:
      • Growing demand from emerging economies
      The decorative coatings market vendors should focus on grabbing business opportunities from the waterborne coatings segment as it accounted for the largest market share in the base year.
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